| Trading
Description:
The full size S&P and E-Mini S&P Swing Trading Programs are traded based on extremely
in-depth computer analysis, obtained throughout the day that combines data from
the cash markets with technical data to create a matrix to determine trend change.
Entries are confirmed from specific support and resistance levels in the futures
market based on specific time frames. Essentially, the system keys off the cash
market, but is designed for effectiveness in the futures market. Some of the technical
data utilized is information such as Advance/Decline input; Uptick/Downtick input;
volume and numerous other input that is of a proprietary nature. The system is
adaptive in its nature in that it is constantly monitoring market data and input
from a number of technical areas. The
trading strategies seek major breakout trends resulting in trades that last from
one to five days on average. The systems are such that they are in the market
over 90% of the time. The system will stay with a trade until it interprets that
the market has run its course in that direction. It will then reverse its position
sensing that the market will now move in the opposite direction. This methodology
is generally referred to as "swing trading" in the industry. Generally, the system
trades approximately 13 round turn trades per month on average. The Advisor requires
that $55,000 be committed for trading each contract in the Full S&P and $10,000
for the E-Mini S&P (i.e. if a customer trades 2 contracts then the customer should
commit $110,000 and $20,000 to the programs, respectively). Please note that if
a customer is trading the full size S&P Program, the Advisor may substitute five
e-mini S&P futures contracts for the one full size S&P contract. Performance
Table
| Month |
2001 |
2002 |
2003 |
2004 |
| January |
NA |
+10.05% |
-5.12 |
-7.88 |
| February |
NA |
-2.82% |
+25.27 |
+1.65 |
| March |
NA |
-11.88% |
-19.27 |
-27.85 |
| April |
NA |
-7.54% |
+12.44 |
-23.96 |
| May |
+9.44% |
+30.49% |
+8.31 |
+2.11 |
| June |
-11.02% |
-8.18% |
-24.40 |
-3.70 |
| July |
-6.59% |
+33.10% |
+14.94 |
No Trading |
| August |
+33.59% |
+14.07% |
+17.19 |
No Trading |
| September |
+9.01% |
+5.73% |
-10.02 |
No Trading |
| October |
+49.66% |
+13.04 |
-5.65 |
|
| November |
-30.42% |
-13.29 |
+10.47 |
|
| December |
+29.51% |
-26.68 |
+0.68 |
|
| Year
to Date | +78.64% |
+20.45 |
+12.36 |
-49.51 |
Notes:
Prior to November 2001, net performance reflects a 2% per annum pro-forma management
fee and a 20% pro-forma incentive fee. Commencing with November 2001, the Advisor
beganing charging clients in the Full Swing S&P Program a monthly incentive
fee ranging from 15% to 20% of net profits and a monthly management fee ranging
from 0% to 2% (per annum). Disclosure
Document Advisory
Agreement Account
Papers (Individual)
Account Papers
(Corporate) Initial
Trading Level Agreement Trading
Level Change Form
Wire Instructions
for Man Financial Accounts
Harris Trust and Savings Bank
ABA# 071000288
For the Account of Man Financial
Account # 3250131
Originator: Name on Bank Account
To Further Credit
Customer Name and Account #
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